白酒还有投资价值吗？

Group 1 - The core viewpoint is that despite recent market gains, the liquor sector, particularly white liquor, remains undervalued with a PE percentile below 2% [1][2] - The white liquor sector has experienced a significant decline of 59% over 32 months since December 2021, influenced by economic slowdown and reduced consumer confidence [2] - The current low valuation of white liquor stocks, with a PE percentile of only 2%, indicates a potential opportunity for recovery as the sector is no longer crowded with fund holdings, which have dropped to 4.99% [2][3] Group 2 - The previous bull market for white liquor in 2020 was driven by favorable economic conditions, high industry growth, reasonable valuations, and substantial fund inflows [2] - The industry is now facing challenges such as declining prices and sales, but there is potential for a turnaround as the sector's fundamentals may improve [2] - White liquor companies are becoming attractive as dividend-paying assets, especially in a low-yield environment, positioning them as potential new dividend stocks [3]